Korean manufacturers bullish about Q3 business

By Nam Kwang-sik
SEOUL, May 28 (Yonhap) -- A majority of South Korean manufacturing companies
predict that business will improve in the third quarter of the year, helped by
financial market stability and the government's stimulus efforts, a poll showed
Thursday.

The Korean Chamber of Commerce and Industry (KCCI) said in the survey that its
manufacturing business survey index was 110 for the July-September period, up
from 66 for the previous quarter.
A reading over 100 means optimists outnumber pessimists and the index has been
below 100 for a fifth consecutive quarter. KCCI conducted the poll on 1,564
companies in early May.
"Local manufacturers are upbeat about the third-quarter economic outlook as the
local currency and the stock market seem to be stabilizing amid continued
government efforts to boost the economy," the chamber said.
The South Korean currency fell below the 1,300-won mark against the U.S. dollar
in May for the first time since October 2008, while the benchmark Korea Composite
Stock Price Index (KOSPI) pierced the 1,400-mark during the same period.
"Expectations of an economic recovery are rising as manufacturing sentiment is
improving, but it may take a while for the real economy to get back on its feet
due to lingering uncertainties over the global economy," KCCI said.
ksnam@yna.co.kr
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